US TSY FLOWS: BLOCK: UXY Likely Buy

• RES 4: 119.925 2.500 proj of the Nov 6 - 12 - 18 price swing        
• RES 3: 119.813 2.382 proj of the Nov 6 - 12 - 18 price swing   
• RES 2: 119.674 2.236 proj of the Nov 6 - 12 - 18 price swing 
• RES 1: 119.280/119.480 High Dec 4 and 5 / High Dec 3                        
• PRICE: 118.880 @ 05:53 GMT Dec 11  
• SUP 1: 118.645 20-day EMA             
• SUP 2: 118.640 Low Dec 6    
• SUP 3: 118.280 Low Nov 25    
• SUP 4: 118.000 Round number support  

Bobl futures maintain a firmer tone and the latest pullback is considered corrective - for now. The move down has allowed a short-term overbought condition to unwind. A resumption of gains would open 119.674 next, a Fibonacci projection. The bull trigger is 119.480, the Feb 2 high. Initial firm support to watch lies at 118.645, the 20-day EMA. A clear breach of this average would signal scope for a deeper retracement.

• RES 4: 1.0937 High Nov 5 / 6 and a key resistance  
• RES 3: 1.0825 High Nov 7 
• RES 2: 1.0697 50-day EMA
• RES 1: 1.0630 High Dec 06
• PRICE: 1.0525 @ 06:05 GMT Dec 11
• SUP 1: 1.0461/0335 Low Dec 2 / Low Nov 22 and the bear trigger   
• SUP 2: 1.0311 1.382 proj of the Sep 25 - Oct 23 - Nov 5 price swing
• SUP 3: 1.0258 1.500 proj of the Sep 25 - Oct 23 - Nov 5 price swing  
• SUP 4: 1.0201 61.8% retracement of the Sep 28 - Juk 18 bull leg     

EURUSD has pulled back from 1.0630, the Dec 6 high. A resistance around 1.0574, the 20-day EMA, remains intact - for now. A close above this average would highlight a clear breach of it and signal scope for a stronger corrective recovery towards 1.0697, the 50-day EMA. An extension higher would also allow for an unwinding of the recent oversold condition. The medium-term trend direction is down. First support lies at 1.0461, the Dec 2 low. 

• RES 4: 138.00 Round number resistance           
• RES 3: 137.72 High Oct 1 and a key resistance 
• RES 2: 137.28 High Oct 2
• RES 1: 136.52/137.18 High Dec 6 / 2 and the bull trigger               
• PRICE: 135.90 @ 05:44 GMT Dec 11
• SUP 1: 135.75/135.46 Low Nov 29 / 20-day EMA 
• SUP 2  134.95 Low Nov 26              
• SUP 3: 134.55 Low Nov 25
• SUP 4: 133.17 Low Nov 20  

A bull cycle in Bund futures remains intact and the latest pullback appears corrective. The move down is allowing a recent overbought trend condition to unwind. For bulls, price has recently traded through 136.37, the 76.4% retracement of the Oct 1 - Nov 6 bear leg. A clear break of this level strengthens a bullish theme and opens 137.72, the Oct 1 high. Initial firm support to watch lies at 135.46, the 20-day EMA.